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WorksheetsPersonal Financial Literacy
Total questions: 38
Worksheet time: 19mins
Name
Class
Date
1.
What are the two ways to earn college credit in HS?
a)
Attend Clear Horizons Program
b)
Dual Credit Classes
c)
Take AP classes and pass the AP exam
d)
All of the above
2.
Money you receive after taxes is called:
a)
gross income
b)
net income
c)
salary
d)
pay day
3.
Money you receive before taxes is called:
a)
gross income
b)
net income
c)
pay day
d)
bank loan
4.
Expenses that change from month to month are called:
a)
fixed expenses (bills, loans, etc)
b)
variable expenses (emergency costs, vacations, car repairs, etc)
c)
stable pricing
d)
irrational pricing
5.
Long term savings goals would include...
a)
vacation
b)
new phone
c)
buying a house
d)
car
6.
When you own a house, what type of tax do you pay on it?
a)
income tax
b)
sales tax
c)
property tax
d)
payroll tax
7.
What type of tax do you pay for Cheetos and soda?
a)
income tax
b)
sales tax
c)
property tax
d)
payroll tax
8.
Which type of tax do you pay once a year on any money you've earned (job, lottery, etc)?
a)
payroll tax
b)
income tax
c)
sales tax
d)
property tax
9.
Which of the following is considered a "need" when budgeting?
a)
money for eating out
b)
money for going to the movies
c)
money to pay for your house
d)
money for your dog's toys
10.
What is the current amount of money in your bank account called?
a)
balance
b)
debt
c)
withdrawl
d)
payment
11.
What is money borrowed that must be repaid, usually with interest?
a)
loan
b)
check
c)
checking account
d)
savings account
12.
What is an account that usually earns interest and is often used to hold money that is not needed right away?
a)
savings account
b)
checking account
c)
loan
d)
transaction
13.
When you write a check from your checking account this is a:
a)
Credit added to your balance.
b)
Debit subtracted from your balance
c)
Credit subtracted from your balance.
d)
Debit added to your balance.
14.
A checking account is:
a)
An account where money can easily be deposited and withdrawn by means of checks, debit cards and ATM transactions.
b)
An interest bearing account where your deposit remains for a set period of time.
c)
A computer program that checks your email account.
d)
Ownership in a company.
15.
Reasons for making a budget include:
a)
To keep track of your income and expenses.
b)
To achieve your long term goals.
c)
To have a spending plan.
d)
All of the above choices are correct.
16.
The lowest amount of money shown on your credit card bill that must be paid every month is called the:
a)
late fee
b)
minimum payment
c)
credit limit
d)
previous balance
17.
A detailed report of your credit history prepared by a credit bureau and used by a lender to determine creditworthiness is called a:
a)
Credit Report
b)
Credit Card
c)
Certificate of Creditworthiness
d)
Report Card
18.
Civic Financial Responsibility deals with:
a)
Being responsible for your spending
b)
Being ethical when conducting business.
c)
Taking consideration to better our society.
d)
All of the choices listed.
19.
Which of the following is one of the main costs of college?
a)
Tuition
b)
Food
c)
Transportation
d)
Gym membership
20.
Besides tuition, most colleges also charge their students for...
a)
room & board
b)
extra fees
c)
books
d)
all of the above
21.
Private colleges have a wide variance in what they charge for their tuition.
a)
True
b)
False
22.
Private colleges get funding from the government.
a)
True
b)
False
23.
The least expensive type of college is usually...
a)
Universities
b)
Community Colleges
c)
Technical Colleges
d)
Public colleges
24.
If someone cannot afford to pay for college, they can get...
a)
a rich grandma to pay
b)
denied acceptance
c)
insurance
d)
financial aid
25.
Scholarships and grants are available for many college students, and they...
a)
have deferred payment
b)
give students a job to help pay
c)
don't have to be paid back
d)
have a low interest rate
26.
Grants are mostly available to students who...
a)
have family financial need
b)
have really good grades
c)
have filled out the application
d)
have talents in sports or arts
27.
The form that is filled out to apply for financial aid is called the
a)
AFSAS
b)
SASFA
c)
FAFSA
d)
AP Exam
28.
Taking out a student loan to pay for college means...
a)
you get it paid for free
b)
you have a high interest rate
c)
you have to pay it back later
d)
the school loans you money
29.
I can work while I attend college.
a)
True
b)
False
30.
Every scholarship available is claimed every year.
a)
True
b)
False
31.
Once a school has my information, I can negotiate the cost of attendance.
a)
True
b)
False
32.
There is less financial aid available to students than there used to be.
a)
True
b)
False
33.
If a college looks too expensive, you should still apply.
a)
True
b)
False
34.
If my family makes too much money, I won't qualify for financial aid.
a)
True
b)
False
35.
How many years does it take to get a Bachelor's degree?
a)
2
b)
6
c)
8
d)
4
36.
What school does this mascot belong to?
a)
Texas A&M
b)
University of Texas
c)
Sam Houston State
d)
Stephen F Austin
37.
What school does this mascot belong to?
a)
University of Texas
b)
Texas A&M University
c)
Sam Houston State University
d)
Stephen F Austin
38.
What school does this mascot belong to?
a)
UT
b)
A&M
c)
LSU
d)
CSU
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